Minnesota Timberwolves center Naz Reid intends to sign a new five-year, $125 million contract to remain with the franchise, sources told ESPN’s Shams Charania on Friday.
Naz Reid Was Eligible To Sign A Four-Year, $87.2 Million Extension
The deal also includes a player option in 2029-30, according to Reid’s agents, Sean Kennedy and Jeff Schwartz of Excel Sports. Contracts cannot be officially signed until July 6.
Reid declined a $15 million player option for next season and decided to stay with Minnesota despite the possibility of receiving more appealing contract offers from teams with the potential of starting roles in free agency.
The 25-year-old was eligible to sign a four-year, $87.2 million extension starting on June 27. The $15 million player option for next season would have been replaced with a starting salary of $19 million.
Just in: Minnesota Timberwolves’ Naz Reid intends to sign a new five-year, $125 million contract to stay with the franchise, including a player option, sources tell ESPN. Critical agreement between the Wolves and Reid’s agents, Sean Kennedy and Jeff Schwartz of Excel Sports. pic.twitter.com/FF9MjGvwb9
— Shams Charania (@ShamsCharania) June 28, 2025
In addition, Reid could have opted in and then inked a four-year $94.2 million extension. The $21 million salary in the first year would have started in 2026-27.
After winning the 2023-24 Sixth Man of the Year, Reid averaged career highs of 14.2 points, 6.0 rebounds, 2.3 assists, and 27.5 minutes in 80 games (17 starts) this past season.
In 15 games off the bench of the 2025 playoffs, he logged 10.4 points, 4.7 boards, 1.7 dimes, and a playoff-career-high 25 minutes per contest while shooting a career-best 50.9% from the field.
Reid ranked first among reserves in points in the 2024 and 2025 playoffs, per Basketball Reference.
Julius Randle, Nickeil Alexander-Walker Could Become Free Agents
According to ESPN’s Bobby Marks, Minnesota has over $110 million in salary committed to starters Anthony Edwards, Jaden McDaniels, and Rudy Gobert for the 2026-27 season.
With Reid signing a multi-year deal, this means Julius Randle and/or Nickeil Alexander-Walker could become free agents. Either Randle or Alexander-Walker may not return, as the cost to retain all three players would push the Timberwolves over $250 million in payroll and again into the second apron.
Per Spotrac, Randle has a player option worth $30.93 million for next season. He has until June 29 to opt-in to his contract for next season, the same deadline the Wolves face to exercise the team options for Josh Minott ($2.2 million) and Luka Garza ($2.3 million).
Including the player options of Reid and Randle, as well as the first-round pick from Detroit, the Timberwolves are $11 million below the second apron.
Randle Eligible For Contract Extension With Timberwolves
Randle is eligible to sign up to four years and $194 million if he did opt in to his contract. But the $43 million price tag in 2025-26 is $13 million more than his player option.
Last week, Timberwolves coach Chris Finch was asked if he expects both Reid and Randle to be on the roster next season. With Reid’s signing, Wolves fans now have the answer for one.
“Absolutely, yes,” Finch told KFAN’s Paul Allen, via Jon Krawczynski of The Athletic.
“I think both players want to be there. That’s first and foremost the most important thing. We certainly want them there. I know [Wolves president of basketball operations] Tim Connelly is working hard to make sure that they get some sort of deal done that makes them happy and want to stay, and feel gratitude that the team is taking care of them.”
The 2025 NBA free agency period begins June 30 at 6 p.m. ET.
